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Damages to physical structures alone amount to $3.4 billion while economic losses have reached $5.1 billion
At COP29, Sweden also pledged approximately $19 million to the fund for responding to loss and damage
In 2023, the global market capitalization of stablecoins exceeded $130 billion
Global factors, especially oil production and OPEC decisions, influence growth expectations for GCC economies
Strategy aims to support 250 million women with social protection programs
At the October 2023 IMFC meeting in Marrakech, the UAE announced a $200 million co-financing initiative for the PRGT
World Bank expects the UAE's inflation to reach 2.2 percent this year and decline to approximately 2.1 percent through 2025-2026
The move is a step towards a mandatory market, requiring carbon reduction projects and emissions calculations
Since 1990, only 34 middle-income economies have managed to become high-income
Saudi Arabia's GDP contracted by 0.4 percent annually primarily driven by the 8.5 percent annual decline in oil activities
The $400 million MASAR Program aims to equip Jordanian youth with skills for the labor market and economic transformation
Remittances to LMICs are expected to grow 2.3 percent in 2024, but unevenly across regions
During the Egyptian-European Investment Conference, Egypt secured a $1.069 billion agreement with the EU
The support aims to boost Egypt's private sector, fiscal resilience, and green growth
The broader MENA region is expected to grow 2.8 percent in 2024 and accelerate to 4.2 percent in 2025
One in four developing economies is expected to remain poorer than it was on the eve of the pandemic in 2019
The inflation rate in its 22 member states is expected to decline to 3.3 percent this year, compared to 9.3 percent in 2023
Oil production remains crucial in shaping the GCC region's fiscal and external balances
The report found that there are now 75 carbon pricing instruments in operation worldwide
22 percent see leadership succession and turnover as their chief concern
Boosting global economic reforms and enhancing regional and global competitiveness
WBG's leveraging capability enables 6-8x multiplication of hybrid capital and guarantee platform funds over 10 years
The report indicates the UAE's current account surplus is expected to reach 8.4 percent in 2024 and 8.3 percent in 2025
How International Financial Institutions (IFIs) can help countries navigate economic challenges
